BSTDB lends € 10 million to Romanian Garanti BBVA Consumer Finance
BUCHAREST (Romania), May 25 (SeeNews) – The Black Sea Trade and Development Bank (BSTDB) announced on Tuesday that it is granting a loan of up to € 10m (12.25m dollars) to Garanti BBVA Consumer Finance, part of Garanti BBVA Romania, to finance energy upgrades and resource efficient use of residential buildings in Romania.
The three-year loan will be on-lent to Romanian homeowners to invest in upgrades that will reduce high energy and water consumption, install renewable energy production and improve their waste management, BSTDB said in a statement. Press release.
The funding will contribute to Romania’s energy efficiency and national environmental goals. Besides the positive environmental impact, the bank’s financing will also generate incentives for the construction industry and increase employment in the country.
“The new facility, the first of its kind following the approval of our climate change strategy, is a great demonstration of how the financial sector can help ESG investments and solve climate change issues,” said Hasan. Demirhan, Vice President of BSTDB, Bank.
Incorporated in Romania since 1997, Garanti BBVA Consumer Finance is part of the Garanti BBVA Romania financial group owned by Garanti BBVA Turkey, majority owned by the Spanish financial group Banco Bilbao Vizcaya Argentaria.
Earlier this month, Garanti BBVA Leasing, which is also part of Garanti BBVA Romania, signed a € 20 million loan agreement with BSTDB to provide leasing contracts to small and medium-sized businesses.
($ = 0.8161 euro)